July 17, 2026 - Oil & Gas 360

360 Energy Pulse: What mattered this week in energy

July 17, 2026

(By Oil & Gas 360) – Energy markets spent another week caught between tightening fundamentals and volatile geopolitics. Oil briefly climbed to a one-month high as attacks intensified around the Strait of Hormuz, only to retreat as traders questioned whether the disruption would materially reduce global supply. Meanwhile, natural gas, LNG, AI-driven power demand, and long-term infrastructure investment continued to

Oil markets are pricing conflict again

July 17, 2026

(By Oil & Gas 360) – For much of the past decade, oil markets were defined by abundance. The U.S. shale revolution, ample OPEC+ spare capacity, and slowing demand growth encouraged investors to focus on production, inventories, and macroeconomic trends. Geopolitical events still generated headlines, but price spikes were often short-lived as markets assumed disrupted supplies could be replaced and trade

Vitol weighs $2.3-billion sale of Delaware basin producer VTX Energy

July 17, 2026

(World Oil) – Vitol Group is in late stage talks to sell its shale oil venture VTX Energy Partners LLC to a consortium of two private equity buyers – Carnelian Energy Capital and EnCap Investments, a deal that would mark a scaling back for the trader in U.S. upstream oil and gas production. The companies could sign the deal as soon as next week,

Japan’s LNG giant weighs U.S. IPO to accelerate global expansion

July 17, 2026

(Oil Price) – JERA, the biggest Japanese LNG importer and largest power producer, is studying a potential listing in the United States as part of a plan to boost its international footprint, Reuters reported on Friday, quoting anonymous sources with knowledge of the matter. The unlisted JERA has launched a feasibility study to assess potential investor demand and the U.S. market conditions and

Europe gas prices jump to 4-month highs on Hormuz blockade threat

July 17, 2026

(Investing) – European wholesale natural gas prices surged on Friday, touching their highest levels in nearly four months as intensifying military exchanges between Washington and Iran stoked fears over a potential closure of the Strait of Hormuz, threatening a critical chokepoint for global liquefied natural gas (LNG) flows. The front-month Dutch TTF gas contract, the European benchmark, climbed to 55.65 euros per

U.S. rig count increased by 7, is at 580- oil and gas 360

U.S. rig count increased by 7, is at 588

July 17, 2026

This week’s Baker Hughes Rig Count shows that the U.S. increased by 7 last week, resulting in a total count of 588 rigs. Canada decreased by 19 over last week, resulting in a total Canadian count of 198 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Barnett, Granite Wash, and the Permian experienced an increase this

Canada’s Basel Belly River shale reemerges as oil development hotspot

July 17, 2026

(World Oil) – On the edge of the Canadian Rocky Mountains, companies including Obsidian Energy Ltd. and Yangarra Resources Corp. are breathing new life into a long-dormant gas reservoir — except now they’re drilling for oil. Both firms are fracing into the sandstone that makes up the Basel Belly River formation in an area southwest of the Alberta’s provincial capital Edmonton called Willesden Green. For the

Oil prices heading for weekly surge as U.S., Iran exchange strikes

July 17, 2026

(Investing) – Oil prices advanced on Friday and were on track for sharp weekly gains, as escalating fighting between the United States and Iran kept traders focused on the risk of supply disruptions from the Middle East. As of 09:47 ET (13:47 GMT), Brent crude futures, the global oil benchmark, had risen 3.0% to $86.79 per barrel, while U.S. West Texas Intermediate (WTI)

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